Request for LXP Reward Vault (LODE)

Reward Vaults
1

General (non-BEX) RFRV - LODE XP (LXP)

Traders Deserve Better v4
Traders Deserve Better v41400×788 94 KB

Summary of RFRV Criteria

  • Deployed Contract: Must already be live.
  • Deployed Tokens: Must have the incentive tokens live.
  • Economic Value: Show significant TVL, trading volume potential, or strategic benefit.
  • Security: Use standard or audited contracts; tokens must be reputable.
  • Decentralization: Each token in the pair must show sufficient decentralization.
  • Transparency: Team/project info, audits, and open communication.
  • Synergy: Integrate with or benefit the broader Berachain ecosystem.
  • Community Support: Demonstrate genuine interest/demand.
  • Operational Safety: Clear ownership, upgradeability details, and compliance considerations.
  • Pair with a Major (Recommended for DEX pools): Major tokens are BERA, HONEY, BYUSD, USDC, wETH, and wBTC.
  • Verification: The proposer should be affiliated with the protocol or at least one of the tokens in the contract

1. Proposer Details

  • Email: squigscat@protonmail.com
  • Proposer’s project name: LODE
  • Proposer’s X account (you will be required to make a post from the X account provided for verification purposes): https://x.com/SquigsCat
  • Best Telegram Handle for questions/fixes: @SquiggleCat

The proposer should be affiliated with the protocol or at least one of the tokens in the contract.

For example if the contract is a $EXAMPLE / $BERA pool on XYZ DEX, the proposer should be affiliated with the protocol (XYZ DEX) or one of the tokens in the pool (in this case, $EXAMPLE).

  • Affiliation (protocol / one of the tokens in the contract)
  1. Protocol Details
  1. Contract/Pool Details

  • Contract Name: LXP Token Vault

  • Contract Address: RewardVault | Address 0x127696d2e3a4ea1f4eed1afef608e8901cbe8965 | BeraScan

  • Contract Type / Configuration: Custom contract for earning LXP token rewards via usage of LODE. These tokens act as an on-chain points mechanism which are distributed to users based on deposits, quest completions, and off-chain social actions. We will not be making an LP for LODE XP tokens (LXP). They are simply used to direct vault rewards to the most active users.

  • Describe how the contract works: Standard Vault contract

  • Contract Fees: No fees are used in the contract.

  • Existing Liquidity / TVL: LODE

  • Identify any address(es) controlling more than 10% of the contract shares
    (address / type: team, protocol-owned liquidity, etc.)

    • No team or purchaser wallets, it is usage-based

  • Is the contract upgradable? Yes

  • Contract Control: Multi-sig wallet

  • Additional details on Contract Control: N/A

  • Is the contract verified? Yes

  • Can the contract be paused? Yes

  • Does the contract rely on oracles? No

4. Token Details

Provide the following details for each token in the contract (up to 5):

For Major Tokens:
  • Name: N/A
  • Symbol: N/A
For Non-Major Tokens:

  • Name: LXP

  • Symbol: LXP

  • Contract Addresses (on Berachain and bridging addresses if cross-chain):
    LXP (LXP) Token Tracker | BeraScan

  • Tokenomics, Distribution, and Vesting: The token associated with the vault is simply a points tracking token that is earned by utilizing LODE.

  • Identify any address(es) controlling more than 10%
    None

  • Does the project issuing the token have any relationship with current Berachain validators? Yes.

  • If yes, which one? Beraland

  • Total Supply Cap (if any): No cap because they are minted based on usage, then burned and reset on a ‘seasonal’ basis.

  • Circulating Supply: 212,648.759

  • Token Type: Rewards token

  • Provide extra details: The LXP token allows LODE to direct vault incentives to our most active users, doing defined on- and off-chain actions.

  • Are token contracts upgradable? Yes

  • Token Control: Single-owner (deployer)

  • Additional details on Token Control

  • Is the token contract verified? Yes

  • Is the token a standard ERC20 or any functions have been customized? (e.g. transfer, balance, mint, burn…)
    Fully complies with ERC20 standard. It is extended by new features for managing user balances increase/fix user balances

  • Can the token be paused? Limited pause for token minting/burning, without affecting ERC20 functionality for already minted tokens

5. Token / Project Background / Incentive Token Whitelist

Only two tokens can be whitelisted for use as incentives in a Reward Vault. Indicate which tokens will be used and provide all relevant information below.

Required Data for Incentive Token:

Additional Requirements:

  • Specify how many tokens you plan to allocate for incentives and over what period of time. We plan to provide 34.9K BERA (received via our RFA allocation) over a 6-month period as reward vault incentives. This would equate to ~5.8K BERA/month. We also plan to use a portion of our protocol revenue in Honey to incentivize the vault (Reward Vault | BeraHub), tbd on the actual percentage. We reserve the right to use a portion of both the Bera RFA allocation and revenue to directly incentivize products, via XP, such as our Funding Rate Farming product to boost yield to our users if BGT is overpriced. However, the majority of incentives will flow directly to our vault as incentives. Timelines and actual incentive amounts may be variable due to changes in the implied value of BGT (i.e. we will not pay large premiums to receive BGT and will use those incentives in a more capital efficient way to benefit our users [i.e. airdrops to users based on staked XP holdings in the vault]).

  • Outline how decisions about token incentives are made (DAO, multi-sig, etc.). Changes to token incentives are governed by the multi-sig and will be clearly communicated to our users and the berachain ecosystem.

  • Incentive Manager address (this address will manage the incentive token, being able to add incentive tokens to the reward vault and change the incentive rate): 0xAf9F704fdF3ACf7bF32D9f60a42Cd55814c737C8 (Lode berachain multi-sig wallet)

6. Growth, Community & Ecosystem Impact

Why This Contract Matters:

  • How will this contract benefit Berachain? This contract will benefit Berachain by exemplifying a novel mechanism by which protocols can reward loyal users of their products in a meaningful way that utilizes the POL flywheel. While it directly benefits LODE users, it will also enable a meaningful TVL sink for those that trade derivatives, but still want to capture BGT and rewards!

  • Will it deepen liquidity for a major ecosystem token (e.g., BERA, core stable asset)? As the vault itself is not based on an LP, it does not directly improve major token liquidity. However, we believe it will act as a net benefit to TVL at large - as users of LODE will be incentivized to keep TVL within the Berachain ecosystem.

  • Does it enable important trading pairs that drive adoption or integrate with other Berachain projects? We offer >300 trading pairs and believe that with the crucial addition of this rewards vault, we can enable perps traders to never want to leave berachain as they can trade all major pairs and have the benefit of receiving BGT and external incentives.

Potential Volume / TVL:

  • Provide metrics or estimates on liquidity you expect to attract.
    • We have already seen >$1M in trading volume since launch and we hope, with the addition of our Funding Rate Farming and Copy/Counter trading products, that we will be generating volume >$1M per day.
    • We also believe that our novel, 1-click funding rate farming product can garner significant TVL for users wanting sustainable yield that is in a delta neutral strategy. We are hoping that other ecosystem partners will also use this product as a part of their treasury risk management strategy.
  • Highlight any known liquidity commitments. (If you or partners plan to seed the contract, provide proof of funds or a statement of intent.)
    • As this isn’t a traditional LP, we don’t have any commitments - the TVL will be purely from users of LODE.

Synergies with Other Protocols:

  • Will this contract feed into any yield aggregators, lending markets, or liquid staking derivatives on Berachain?
    • The contract itself will not feed into other protocols unless they would like to adopt LXP as a rewards system. However, a lot of our products built on-top can be, and those protocols can issue LXP to their users if they desire.

Marketing / Promotion:

  • Are there plans to co-market with another project to bootstrap liquidity?
    • Yes, we plan to do co-marketing with Beraland and any partners that plan to adopt the LXP system.

Long-Term Vision:

  • How could this reward vault evolve over time? (E.g., eventually becoming a core liquidity pair or a major stable pool for the chain.)
    • The long-term vision of this vault is to create a sustainable rewards mechanism for the users of LODE and our partners. We will also be happy to share this design with other protocols that want to adopt a similar strategy to enable flexible rewards to drive specific actions by their users.

7. Verification

Please post the following text with the provided X account:

“Submitted Reward Vault Request for [Contract Name] on protocol [Protocol Name] with incentive tokens [incentive token 1], [incentive token 2]”

https://x.com/LodeTrade/status/1897319375440634356

Final Reminder

A successful RFRV hinges on demonstrating:

  1. Security: Low smart contract and token risk.
  2. Demand: Community and liquidity providers want this pair.
  3. Ecosystem Benefit: Increases volume, TVL, or strategic positioning for Berachain.

Make sure to cover these points clearly to maximize your chances of passing the governance vote / RFRV!

2 Likes
2

I really liked using this platform for my derivative trading.
The way they tracked and showed my activity was unique, makes my time more valuable. I want my time to be more valuable. Experience staked n utilising POL earning me rewards I do want on berachain. I would not have that much reason to do this off chain as I still do.

1 Like
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LXP has been Whitelisted Reward Vault | BeraHub

1 Like
4

Henlo Lode and Foundation mothership, (council actually now, sup henlo council)

It’s with a happy heart I wanna come say thank you to you both. This here is the first time where my eyes were opened to PoL working as an activity. Today I’m getting BGT emissions for something I did back in February. It’s incredible a feeling to know and feel and see my time is and was valuable. I struggled to convey this concept for the longest of time, I’m happy and full of confidence that you will constructively and responsibly keep innovating on this front and that the beras that do give a lot of themselves for berachain and all people, will benefit from it. Feeling how worthwhile they really are. It’s almost magical how true value can actually be the thing incentivised, it’s so simple actually but it rarely happens in life.

Changing the world for a better place is possible, and a hella lotta fun with my bera brethren.

Thank you Lode for opening my eyes.

beep boop, kek grr. I don’t know how to say this humorous, have some sincere.

1 Like